Gaw Capital and partners to acquire Hong Kong office tower for $1.71 bil

/ EdgeProp Singapore |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - Gaw Capital Partners, a real estate private equity firm, announced that a fund under its management and consortium partners have entered into a sale and purchase agreement with Swire Pacific and Swire Properties to purchase CityPlaza One for HK$9.85 billion ($1.71 billion).
Completed in 1997 and located in Taikoo Shing in Hong Kong’s Eastern District, the 21-storey Grade-A office tower has a gross floor area of about 630,000 sq ft. The acquisition sum amounts to an average price of HK$15,609 psf. The building is connected to Tai Koo MTR Station and Cityplaza shopping mall. Tenants of CityPlaza One include financial institutions, insurance companies, and MNCs.
CityPlazaOne - EDGEPROP SINGAPORE
CityPlaza One is a Grade-A office building in Hong Kong’s Eastern District. (Picture: Gaw Capital)
Gaw Capital already owns and manages the neighbouring CityPlaza Three and CityPlaza Four, as well as 625 King’s Road. The firm has also acquired 29 local Hong Kong shopping malls from Link Reit through funds under management. Gaw Capital says it will reposition all of these assets into attractive community hubs.
Advertisement
“Following the purchase of portions of CityPlaza Three and CityPlaza Four in 2018 and 625 King’s Road in 2019, we are delighted to have signed the sales and purchase agreement for the purchase of CityPlaza One. We see it as a strong addition to our commercial portfolio in Hong Kong’s Island East District,” says Goodwin Gaw, chairman and managing principal of Gaw Capital Partners.
He adds that the district has benefitted from improvements over the years by Swire Properties as the major landlord in the area, and the firm will continue working with Swire Properties to build up the district as an alternative business district on Hong Kong island.

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site

Popular Projects

Condos

Landed

Commercial

Industrial

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More